1.5 Review: External Influences on Business

A fall in UK consumer spending would...

• Increase sales for retailers of luxury goods

• Increase sales for budget retailers

• Increase sales for travel agents

A shareholder is...

• Someone with an interest in what the business does

• Someone who owns part of the business

• Someone who works on the stock market

A stakeholder is

• Someone with an interest in the business

• Someone who owns part of the business

• Someone holding a piece of meat

The objectives of employees are likely to clash with the objectives of which stakeholder group?

• Suppliers

• Customers

• Shareholders

• Local community

ASOS and Boohoo are examples of

• Retailers

• e-tailers

• websites

• clothes shops

Which type of business is LEAST likely to benefit from e-commerce?

• A clothing brand

• A producer of home entertainment technology

• A wedding dress maker

• A producer of custom-designed private jets

The dominance of Amazon in e-commerce is a good thing for smaller businesses

• True

• False

E-commerce can reduce business costs because...

• Advertising can be more targetted

• Variable costs are lower

• Fixed costs are lower

• They can buy in poor quality goods and get away with selling them on.

Legislation...

• Protects consumers from being mislead

• Protects workers from discrimination

• Protects workers and consumers from being injured

• Guarantees that all workers will be paid the same

If the pound gets stronger, this means...

• It will be cheaper for UK businesses to buy from US businesses (import)

• It will be more expensive for UK businesses to buy from US businesses (import)

• It will be more expensive for US businesses to buy from UK businesses (exports)

• It will be less expensive for US businesses to buy from UK businesses (exports)